Mortgage Protection Insurance
What Is Mortgage Protection Insurance? Mortgage protection insurance is a type of term life insurance that is designed to pay off your mortgage in the event of your death. It functions like a standard term life policy: You purchase a policy for a set period, make monthly payments, and if you pass away while the policy is in force, your chosen beneficiary receives funds to pay off your mortgage. This coverage ensures that your family could stay in their home if you were no longer able to contribute to mortgage payments.
Mortgage protection insurance is right for you if you want to:
- Protect your most valuable asset
- Ensure your loved ones never have to deal with the fear of losing their home
- Provide financial security if the unthinkable happens
Why Do I Need Mortgage Protection Insurance?
As a homeowner, being able to pay your mortgage on time every month is important. What would happen to your loved ones if you were to die prematurely, become disabled or critically ill, and your income suddenly disappeared? None of us know what the future will bring, but you can achieve peace of mind today with mortgage protection insurance.
Advantages Of Our Plan:
- Provides a death benefit to pay off your mortgage in the event of your death
- Pays your mortgage payments if you become disabled
- Protects your mortgage payments in the event of critical illness
- Provides benefits from a life insurance policy with generally affordable premiums
- Achieves peace of mind for your home and family
We can shop over 30 different top-rated insurance carriers to find the right plan for you.
This type of insurance functions much like other life insurance policies: You pay premiums to the insurance company to purchase a specific amount of mortgage protection coverage. Those premiums are based on your attained age and your health, as well as the value of your home and the payoff amount. If you die while the policy is in force, the insurance company provides funds to pay off your mortgage.
Frequently Asked Questions:
Isn’t This Just Home Owner’s Insurance?
Home Owners Insurance Covers:
- Damage to your home in severe weather and water conditions
- Theft of your belongings
- Vandalism of your house and property
- Fire damage to your home
- Personal injury lawsuits if someone gets hurt on your property
With Our Program:
- Money goes to your family
- Pays your mortgage if you become sick or injured
- Money your family receives is tax free
- Makes your premiums in case of job loss*
- Is portable – new home? It travels with you
Will I Qualify?
In most cases, yes! This type of insurance has a very high acceptance rate as most plans are offered with simplified underwriting (you won’t have to take a medical exam to qualify).
Do I Really Need This?
If you have a mortgage on your home, or if you are in the process of obtaining a mortgage, you should consider buying mortgage protection insurance.
Can I Really Afford This Coverage?
Mortgage protection is one of the most inexpensive types of insurance, and it’s often a more affordable option than purchasing a separate whole life policy to pay off your mortgage in the event of your death. When it comes to peace of mind and making sure your family is taken care of in case you are gone, it really just makes sense.
Let’s Get You Started:
We will take the time to understand your needs to align you with the best policies at the best rates. Fill out the form, follow these simple steps and we will reach out to you within one business day. We look forward to helping you get the coverage you need at the price that works.